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BUSINESS

TNB invests RM21 bln in Grid of the Future programme

21/09/2022 12:08 PM

KUALA LUMPUR, Sept 21 (Bernama) -- Tenaga Nasional Bhd (TNB) is investing RM21 billion in its Grid of the Future programme from 2022 to 2024 to enhance its transmission and distribution network readiness and reliability.

President and chief executive officer, Datuk Baharin Din said on a regional level, TNB is proactively identifying transmission grid locations that will improve market integration and will work closely with local authorities.

“Given the time required to plan and set up the necessary regulatory, financial and physical infrastructure, the region must act swiftly to accelerate these efforts.

“All of us must all play our part in our shared journey towards a greener, more equitable and resilient future,” he said in a statement today. 

He said ASEAN power utility companies need to accelerate collaborations towards achieving an interconnected ASEAN Power Grid (APG) in support of the region’s collective goal of achieving net zero emissions as member countries shift to cleaner and more sustainable energy.

Baharin stressed that an interconnected grid like the APG is crucial in helping ASEAN member countries leverage resources from their neighbours during times of crisis, as well as providing the opportunity to trade and leverage the pricing of resources at other times.

As ASEAN’s power utilities accelerate their transition to a sustainable future, the sharing of renewable energy sources will spur incremental inflow of private investments into ASEAN, as well as drive innovation and growth of clean energy in the region, he said.

Citing the successful commencement of the Laos, Thailand, Malaysia and Singapore Power Integration Project (LTMS PIP) this year, Baharin said he is confident that ASEAN power companies can work towards realising the APG.

“We are in a good position to design a power trade framework that hopefully will match each country’s electricity industry structure and provide a win-win situation for all,” he said.

He pointed out that TNB, in its holistic approach to responsible energy transition, recognises the importance of ASEAN interconnection.

“Thus, we are committed to expediting the progress of the APG,” he added.

-- BERNAMA


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